P2P trading on Binance is like dating onlineâmost people are fine, but one wrong swipe and you're ghosted with your money in limbo.
Donât worry, weâve all been there. Letâs break down the rookie mistakes so your first trade doesnât end in heartbreak (or a frozen bank transfer).
Step 1: Pick the Coin You Want to Buy or Sell
Once you're logged into your Binance account and have passed KYC (identity verification), head to the P2P section. You'll usually find it under âTradeâ â âP2Pâ.
Hereâs what youâll see: a list of offers from real users buying and selling crypto like USDT, BTC, ETH, BNB, etc.
Choose the coin youâre interested in.
If you're just getting started, most people use USDT because it's stable (pegged to the dollar) and widely accepted.
Step 2: Filter by Payment Method
You canât buy crypto if you and the seller can't connect through a financial service. So next:
Tap "Filter".Choose your local currency (e.g., USD, EUR, COP).Pick a payment method that works for youâlike bank transfer, PayPal, mobile wallet, or even money transfer services. This helps you see only the sellers who accept your preferred payment method, so you're not scrolling through offers you canât actually use.
Step 3: Choosing the Right Seller (and Avoiding the Wrong One)
Not all offers are created equal. Hereâs how to spot the good ones:
Completion rate: Go for users with a 90%+ completion rate. That means they donât ghost people mid-trade.Number of trades: A seller with hundreds (or thousands) of trades under their belt is probably reliable. A seller with 1 trade? Maybe donât start there.Verified badge: Look for the yellow badgeâthese users have completed extra verification.Price: Lower prices are tempting, but donât chase the cheapest offer. It's not worth saving a few cents if you risk a headache.Limits: Check the minimum and maximum amount the seller is willing to trade. Make sure your amount fits within that window.
Step 4: Make the Trade (and Donât Skip This Bit)
Once youâve found someone who looks solid:
Tap Buy (or Sell).Enter how much you want.Double-check the payment windowâsome sellers want payment within 15 minutes.Hit Confirm and follow the instructions.
Important: Binance holds the crypto in escrow while the trade is happening. That means itâs locked up safely, so the seller canât disappear once youâve sent the money. The crypto only gets released when both sides confirm everything's done.
Step 5: Pay (or Get Paid), Then Confirm
If you're buying:
Send the money using the payment method listed.Once youâve sent it, tap âTransferred, notify sellerâ.Wait for the seller to confirm and release the crypto.Never hit that button before youâve actually made the paymentâseriously.
If youâre selling:
Wait for the buyer to pay.Check your bank or wallet app, not just Binance.Once you see the money, release the crypto.
Step 6: What to Do if Something Feels Off
If the buyer claims they paid but you donât see it?
If the seller suddenly disappears mid-trade?
If you get a message asking you to switch to Telegram?
Donât panicâhit âAppealâ. Binance will pause the trade, check the facts, and make sure no one gets screwed over.
General Safety Tips (a.k.a. How to Avoid Regret)
Binance escrow = your safety net. No one gets your crypto until you say soâand theyâve paid. Donât confirm payment unless you actually got the money.Screenshots lie. Apps glitch. Double-check your own bank.Never go off-platform. If someone says âMessage me on WhatsApp,â just donât. Thatâs scammer behaviour.Watch for mismatched names or third-party payments. Payment should come from the same person you're trading with.Donât feel rushed. Scammers love pressure. Take your time to verify everything.If in doubt, Appeal fastâdonât wait.
Got questions, horror stories, or tips of your own? Drop them in the commentsâI read them all. And if this helped you dodge a scam or two, hit follow for more no-nonsense crypto guides.
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